Business oriented
social networking service LinkedIn has taken 246,000 sq ft of space in the
Global Technology Park, Bengaluru, owned by Singapore based investor-developer
Maple Tree, for a research and development centre.
The space bought on
Sunday is more than thrice the space it had taken in the same city three years
ago. In 2013, LinkedIn booked 74,341 sq ft of office space in the city's
Prestige Technology Park to set up its technology centre. Global Technology
Park is a 1.6 million sq ft complex, in the Outer Ring Road area of Bengaluru.
In the earlier leasing deal, LinkedIn paid around INR 43 per sq ft as opposed
to INR 65-70 per sq ft for the Sunday’s buy. This means LinkedIn is
expected to pay around Rs 20 crore for the space bought on Sunday. LinkedIn
India is headquartered in Mumbai, with two offices in Gurgaon and the technology
centre in Bengaluru.
LinkedIn has seen a
ten-fold increase in its membership since its inception in India six years
back. Currently, its membership is more than 33 million worldwide including Prime
Minister Narendra Modi and top executives of some of the biggest companies in
the world.
In January 2016, Akshay
Kothari, who is the new principal product manager of LinkedIn, was announced to
be the one who would head the India operations.
LinkedIn has
65.6 million monthly unique U.S. visitors and 178.4 million globally
and its services are available in 24 languages including English, Arabic,
Chinese, French, German, Italian, Japanese, Korean, Russian, among others. The
site has been described by Forbes as the “the most advantageous social
networking tool available to job seekers and business professionals today.”
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